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Topspin does not seem to be capable of raising a new fund. Even if they were able to, the firm is falling apart at the seams. Ask how many days a week partners show up to the office. Maybe two..." They are even advertising an LBO service on their venture fund homepage.

Moral in the partnership is bad. Partners are interviewing, and the current fund is basically out of money. The only thing that seems to keep the "team" engaged at all is unorthodox equity granted to the "team," versus the firm limited partners. Save yourself a trip on the LIE and avoid Topspin.